Nihon Keizai Shimbun (Nikkei) is to introduce a new, free float-adjusted stock index (provisionally named The Nikkei 1000) next spring. The Nikkei 1000 will track market capitalization based on the value of floating shares in 1,000 listed firms. The Tokyo Stock Exchange has already announced the introduction of free-float adjusted indices.
According to Nikkei, 96% of the top listed shares will be covered by the new index. Out of the 1,000 companies that make it up, 90 are traded outside Tokyo Stock Exchange. The index will be calculated on a real time basis, as the established Nikkei 225 is. Nikkei will review the composition of the stocks and free-float ratio once every year.